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Meeting Date:
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11/12/2024 - 7:00 PM
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Category:
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CONSENT ITEMS - RESOLUTIONS
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Type:
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Action
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Subject:
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11.1 Resolution No. 017-24/25, Regarding Accounting of Developer
Fees for the 2023-2024 Fiscal Year in the Capital Facilities Fund
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Attachment Summary
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File Attachment:
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Quick Summary / Abstract:
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Staff is presenting Resolution No. 017-24/25, Regarding Accounting of Developer Fees for the 2023-2024 Fiscal Year in the Capital Facilities Fund, for our Board of Trustees’ approval.
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Background:
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By California statute, local public agencies are required to make a public report on their use of developer fees each year. By law, all developer fees collected must be placed in a separate Capital Facilities fund. Interest accruing to the fund must also be used for capital facilities expenses. Local agencies are required to make available to the public an annual accounting for the Developer Fee Fund per SB 201 and AB 2926. The report must include the beginning and ending balances for the fiscal year and all income to the fund and expenditures out of the fund. In addition, Government Code Section 66006 requires the local agency to review the balance for the fund not less than 15 days after the information is made available for public inspection.
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Status
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The financial statement of the Capital Facilities Fund was made
public at the September 17, 2024 Board Meeting. The Developer Fee
Annual Report is made available to the public as Attachment A to
Resolution No. 017-24/25, presented at the November 12, 2024 Board meeting.
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Fiscal Impact
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The audited balance in the Capital Facilities Fund (Fund 25) on June
30, 2024 was $579,053. These funds are restricted for facility
construction and improvement projects.
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Superintendent's Recommendation:
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Our Superintendent recommends approval of Resolution No. 017-24/25 Regarding Accounting of Developer Fees for the 2023-2024 Fiscal Year in the Capital Facilities Fund.
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Approvals:
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Recommended By:
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Signed By:
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Lynn Kneizeh - Executive Assistant
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Signed By:
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Kayla Wasley - Assistant Superintendent of Business Services
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Signed By:
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Torie F. Gibson, Ed.D. - Superintendent
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Vote Results:
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| Original Motion | | Member Kristie Wang Moved, Member Steven Drouin seconded to approve the Original motion 'Our Superintendent recommends approval of Resolution No. 017-24/25 Regarding Accounting of Developer Fees for the 2023-2024 Fiscal Year in the Capital Facilities Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Craig Bueno | Yes | | Emily Prusso | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | | Steven Drouin | Yes | |
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